A business that claims a nearly endless market to conquer with projected EBITDA margins approaching 70 per cent is either deluded or on to a good thing. And as the deluded don’t receive substantial investment from firms such as Michelin, the latter must apply in the case of Scandinavian Enviro Systems (Enviro). The company aims to be the leading player in the circular economy for tyres and wants to secure a 15 to 30 per cent share of the global market for recovered carbon black. The UK is tipped to be an early beneficiary of these ambitious growth plans.
The Board of Scandinavian Enviro Systems (Enviro) decided today on the final location for establishing its previously announced recycling plant in Uddevalla, Sweden, and also approved the company’s environmental permit application. The company intends to formally submit the application this Friday and anticipates that the application process may take up to one year.
The Swedish parent company of Essen-based Safety Seal GmbH has merged its Safety Seal AB, Maxi Grip AB and Vool AB companies under the umbrella of Niso Tech AB. As a result of the merger, the three aforementioned companies will cease
Swedish company AstaZero is about to officially open (on 28 April) the world’s longest indoor track for testing active safety systems and autonomous technologies for all types of vehicles. Vehicle operators are able to conduct tests 24 hours a day, 365 days a year. AstaZero Dry Zone is the world’s first full-scale independent testing and demonstration facility for future road safety, and it is now being expanded to house the world’s longest indoor track: 700 metres long and 40 metres wide.
Michelin is investing US$30 million in building its first tyre recycling plant in the world in Chile. The project is the result of Michelin’s ongoing collaboration with Enviro, a Swedish company that has developed a patented technology to recover carbon black, oil, steel and gas from end-of-life tyres.
Located in Chile’s Antofagasta region, the plant will be able to recycle 30,000 tons of earthmover tyres a year, or nearly 60 per cent of such tyres scrapped every year nationwide. Work will begin this year, with production scheduled to get underway in 2023.
The parent company of tyre maker Trelleborg Wheel Systems has launched a new climate goal, which it calls ‘50 by 25’. This is Swedish firm Trelleborg AB’s aim to reduce its CO2 emissions relative to sales 50 per cent by 2025. It will pursue this goal in conjunction with a vision statement to achieve complete climate neutrality, or net zero emissions, in its own operations by the end of 2035.
Nexen Tire Europe is rationalising its approach to sales and marketing, and has thus announced changes affecting its operations in Austria and Sweden. The tyre maker will transfer responsibility for both markets’ sales organisations to its European headquarters in Kelkheim, Germany by the end of Q1 2021.
Nynas has exited company reorganisation after Swedish courts confirmed the process is now complete following a creditors meeting. The court’s decision is effective 21 December 2020. After this, Nynas will no longer be limited by reorganisation regulations.
Scandinavian Enviro Systems (publ) and Michelin expect the final agreement regarding their strategic partnership will be reached during the fourth quarter 2020 rather than at the end of October, which Enviro previously communicated. The coronavirus pandemic is cited as the reason for the delay in negotiations.
Having exited US sanctions in May 2020, Nynas – which supplies oils to the tyre and rubber industries – has continued an eventful year by announcing significant ownership changes that put Bitumina in a commanding position amongst its shareholders.
GS Yuasa Battery Sales UK Ltd are pleased to announce the establishment of a new sales company to serve their Nordic and Baltic export regions. GS Yuasa Battery Nordic began trading from a new distribution centre in Jönköping, Sweden in December 2019. The creation of a new sales company and distribution centre in Sweden represents a significant investment from the battery manufacturer, as it aims to increase market share in the Nordic and Baltic regions.
The US Treasury Department’s Office of Foreign Asset Control (OFAC) has confirmed that Nynas is no longer being blocked pursuant to the Venezuela Sanctions Regulations. As a result of a corporate restructuring of the ownership of Nynas AB, sanctions are lifted.
At the end of February, Trelleborg invited key dealers to the company’s Swedish homeland in order to further develop connections with its UK distributors and share the details of recent developments at the well-known agricultural and off-road tyre and wheel manufacturer. Tyres & Accessories spoke with Trelleborg’s Agricultural Segment Leader – EMEA, Bruce Lauder in order to find out more.